AOC is with the President - on Phillips curve and the Fed

[mukk_in]

Rare agreement?

Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve

 

[Yekcidmij]

Rare agreement?

Ocasio-Cortez finds herself on same side as Trump regarding the Federal Reserve

I bet when Trump and AOC mention the "Philips Curve" that it's not the same Philips Curve that Jay Powell thinks about. Powell is undoubtedly thinking about the New Keynesian Philips Curve, where I bet Trump and AOC think about a Philips Curve idea that was disproven in the 70's by people like Tom Sargent and Robert Lucas.

http://web.mit.edu/14.461/www/part1/slides4.2.pdf